Exchange Rate; Manner and Place of Payment. (a) All payments due hereunder from time to time shall be paid in U.S. Dollars. For purposes of computing such payments, the Net Sales of Product in countries other than the United States shall be converted into U.S. Dollars as computed using the average monthly rate of exchange at the time for such currencies as the rate applicable to the transfer of funds arising from payments as published in the Wall Street Journal (New York edition). The currency conversion system used by EyeTech shall be subject to audit by Gilead as described in Section 3.6 and, if not determined to be a system reflecting the fair market value of the currencies in question, shall be modified as necessary to effect currency conversion at fair market value.
Appears in 4 contracts
Samples: Licensing Agreement (Gilead Sciences Inc), Licensing Agreement (Eyetech Pharmaceuticals Inc), Licensing Agreement (Eyetech Pharmaceuticals Inc)
